Property Valuations coming out of the Freestone Central Appraisal District (CAD) are higher this year than in previous years, leaving citizens concerned with how the COVID-19 pandemic has affected everyone and everything.

Bud Black, Chief Appraiser, of Freestone CAD, helped explain how property values work regarding taxation, the State of Texas, and the people who own the property.

The duties of the office are simple, they determine the market value of all taxable property and administer exemptions and special valuations as authorized by local entities and the State of Texas.

Meaning, the office does not collect tax, but rather tell you how much your home, or other property, is worth. In other words, they give you the property’s value.

The value set is decided by information provided during the previous year. The property sales from 2019 decided the property values for 2020.

2019, economically speaking, was a much better year than 2020 is proving to be.

The reported 2020 appraisal roll shows a total market value of $4,306,172,142, which is an increase of $406,535,455 over the certified value of $3,896,636,687 for 2019.

A portion of the increase is due to things that are new:

–$13,980,399 in new improvements,

–$12,519,656 in new personal property

–$12,714,600 in new mineral/utility/industrial property.

Property that sold in 2019 is looked over with a focus on how much that type of property sold for, which helps show what the new valuation will be.

The State of Texas requires these values to reflect 95% to 105% of what was seen in the previous year, if it does not the state can, and will, lower the money school districts receive.

Most years, the beginning of April is when the Notices of Appraised Value for Real Property are mailed out.

Although, in 2020 Chief Appraiser Black, did suggest to the Freestone County Commissioners to request holding these notices longer in hopes that Governor Abbott would allow them to use the 2018 values.

Abbott did not.

Instead the Governor made it clear that he would not allow the lowering of property values, but instead that each taxing entities could lower property taxes when they set their tax rates in September.

Taxing Entities do have the ability to set their tax rate at a level to keep the same flow of income, without increasing taxes paid by a rate change.

Freestone CAD is responsible for fifteen taxing entities, not only ones solely located within the county.

The Freestone County taxing entities are:

–Freestone County has a taxable value of 2,634,219,111 ($277m increase from 2019)

–City of Fairfield has a taxable value of 242,428,508 ($35m increase from 2019)

–City of Teague has a taxable value of 131,334,102 ($10.8m increase from 2019)

–City of Wortham has a taxable value of 34,603,213 ($4.3m increase from 2019)

–Dew I. S. D. has a taxable value of 173,049,396 ($4.3m increase from 2019)

–Teague I. S. D. has a taxable value of 746,954,628 ($3.1m increase from 2019)

–Teague Hospital District has a taxable value of 827,752,961($37.9m increase from 2019)

Taxing entities that also extend partially outside of Freestone County:

–City of Streetman has a taxable value of 7,522,058 (264k increase from 2019)

–Buffalo I. S. D. has a taxable value of 78,089,915 ($14.3m increase from 2019)

–Fairfield I. S. D. has a taxable value of 1,234,904,795 ($101k increase from 2019)

–Oakwood I. S. D. has a taxable value of 89,560,665 ($2.2m decrease from 2019)

–Corsicana I. S. D. has a taxable value of 8,415,731 ($200k increase from 2019)

–Wortham I. S. D. has a taxable value of 159,022,188 ($21.8m increase from 2019)

–Mexia I. S. D. has a taxable value of 2,770,140 ($700k increase from 2019)

–Fairfield Hospital District has a taxable value of 1,398,268,763 ($201k increase from 2019)

All entities, except one, saw an increase in valuation, meaning the property is worth more, and staying the same tax rate as the previous year can mean an increase in taxes.

Oakwood ISD did see a decrease in valuation, but not in marketable value, because of agriculture exemptions.

The Freestone CAD saw an increase in protest this year, to the extent that they have ARB hearings scheduled into September.